USD/CHF door open for a test of 1.0295 – Commerzbank

FXStreet (Edinburgh) - In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the current upside momentum could take the pair to the 1.0295 level.

Key Quotes

“USD/CHF we believe has resumed its rally. So all we have seen last week is a tight consolidation, but it has been enough to neutralise the momentum indicators somewhat. Dips lower should find initial support at .9958/03 ahead of .9777 the 55 day ma”.

“We look for further gains to the 1.0128 March high and then the 1.0295 2015 high. Above here we target 1.0732, the 78.6% retracement of the move from 2010 to 2011”.
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